, real change, is changing the corrupt and broken system here in washington, d.c. [applause] how do you win young people? the two who have most energized young people? ronald reagan and rand paul. the key is being named ronald. [laughter] it, neitherhink of one of them were young, rugged, james dean, "rebel without a cause." .hey were septuagenarians they painted a bold and inspiring vision for america about how we can all be better,

and young people came out by the millions and said, "that is the vision i want to be behind. " [applause] if you were to sit down and look at the agenda to hammer the living daylights out of people, you could not do better than the obama economic agenda. under president obama, we have had five years of the great stagnation, no economic growth, which means one generation after another coming out of school cannot find jobs. you know, economists are referring to young people coming out of college now as the lost generation. wealth transfer from young, healthy people to everybody else with obamacare, and then our national debt up to $17 trillion, who the heck do you think is going to pay for that? the obama agenda has been horrible for young people, and

yet how many republicans have said that? does anyone remember going to young people in the last election and making the point that there is a better way, a bright future? how do we inspire people? why not tell the truth? [applause] this president seems to have a little problem with that. said, "so,jay leno uh, president obama called me. if you like your job, you can keep it." he followed that up a couple of weeks later by saying, "so, uh, the holidays are coming up, thanksgiving. you know the first thanksgiving, they said to the indians, if you like your land, you can keep it."

we need to tell the truth. the truth is washington is corrupt. [applause] there is a corrupt an interlocking system of lobbyists and lawyers and consultants who are suckling off washington, and you are in the richest counties of the country, right now, as more and more people are making great wealth in washington, and wall street prospers, and main street suffers. young people suffer, latinos suffer, working moms suffer, everyone looking for the american dream suffers, and there is a difference between the corrupt washington and the american people, and we stand with the american people. [applause] we stand with the straightforward and bold, positive agenda to inspire the

young, to inspire women, to inspire hispanics, to inspire everybody. number one, defend the constitution. [applause] all of it. defend the first amendment, the right to free speech, the right to a free press. to all our friends in the media, --means not having governor government monitor sitting in your newsroom. the right to freedom of religion, and that means, among other things, not having the irs say to tell you the content of your prayers. we need to stand for the second amendment right to keep and bear arms. [applause] we need to stand for the fourth and fifth amendment rights, the privacy of every american.

how many of you all have your cell phones? i want to ask you to please leave them on. i want to make sure president obama has a chance to everything i have to say this morning. [laughter] number two. we need to abolish the irs. [applause] need to adopt a simple flat tax that is fair, that every american can fill out his taxes on a postcard. number three. we need to expand energy in this country and create high-paying jobs all over america.

president obama talks about a $10 minimum wage. wage with theum lowest participation since 1978 under obama, it is zero, for the millions who have lost their jobs in the failed obama economy. in north dakota in the oil fields, the average wage is over $45 per hour. i want a lot more $45 an hour jobs than zero dollar an hour jobs on unemployment. number four, we need to expand school choice. [applause] every child deserves an opportunity to have an excellent education, regardless of your race, your class, your greed, where you come from, and every child deserves a fair chance at the american dream. number five, we need to repeal

dodd-frank. talk about a bill that you do not have to read any further than the title to know nothing good can come of this. to audit thee need federal reserve. unaccountable power in washington, debasing our currency, driving up the cost of food and gas and the basic stuff of life is hurting americans who are struggling across this country, and i will tell you what else it is doing. it is fueling the abuse of power i petro tyrants, like prudent --putin. [applause] seven.

we need to pass a strong balanced-budget amendment. [applause] we need to stop bankrupting our country. now, our kidst and grandkids are inheriting a country where the national debt is larger than the size of our entire economy, and let me speak now to all of the people in the room who did not applaud when i said, is there any young people here. what we are doing to our kids and grandkids is morally wrong. it is an outrage. if we keep on this road, they will spend their entire lives working not to meet the needs of their priorities but instead just working to pay off the debts that their deadbeat parents and grandparents stuck them with. and our parents did not do that to us. their parents did not do that to

them, and the reason we are here today is we are not going to do but to the next generation. he are going to turn this around. [applause] number eight. to repeal every single word of obama care. [applause] of americans stood up last fall and said stop this train wreck, this disaster, that is hurting millions of people, that democrats said, the mainstream media said, although i repeat myself -- [laughter] said this is hopeless. don't you understand?

just move on. you cannot do anything to stop this. yes, we can. [applause] you know, along with hope and change, that is pretty good. number nine. we need to stop the lawlessness. this president of the united states is the first president we have ever had who has decided he can choose which laws to enforce and which changed to ignore, and he has announced about every day something new. it is inconsistent with our constitution. it troubles democrats, republicans, independents, libertarians. let me tell you, if you are choosing a president who is choosing which laws to follow

and which to ignore, you no longer have a president. [applause] and number 10, we need to end the corruption. eliminate corporate welfare and crony capitalism. if you come to washington and there shouldress, be a lifetime ban on lobbying. and we need to pass a strong constitutional amendment that puts into law term limits. [applause] now, there are lots of voices in washington who will say, no, no,

no, no, this is too bold. you cannot stand against the irs. you cannot say repeal obamacare. let's just modify it. a friend of mine suggested a slogan. republicans, we waste less. [laughter] you win elections by standing for principle and inspiring people that there is a better tomorrow. [applause] not comeutions will from washington, but i tell you where they were come from, which is the american people. one of youell every who took out your cell phones if you want to join in the army, because we are trying to mobilize people in this country. text the number growth to the number 3373.

text the word growth, growth, to the number 33733. because what we are trying to do to turn this country around is mobilize and energize the american people all over this country, and tweet, if you are on twitter, tweet the #makedclisten. you, ino tell conclusion, i have never been more inspired than i have been right now. i am not inspired by washington. i am not inspired by the corruption or audacity of the white house. i am inspired because all across this country, people are waking up. all across this country, people are waking up and saying, we are hurting. we need to turn this country around. we did it in 1980 with a grassroots movement that became the reagan movement, and the same thing is happening again.

i am inspired. i am honored to stand with you today, because if the american people continue to rise up, to speak out, to speak the truth, we will get back to the free market principles, we will get back to the constitutional liberties that have made america the greatest country in the history of the world. we will bring back morning in america. that is why we are here. for you andfuture everyone else in this country. thank you, and god bless you. ♪ [captions copyright national cable satellite corp. 2014] [captioning performed by national captioning institute] >> c-span. we bring public affairs of and from washington directly to you, putting you in the room at congressional hearings, white house events, briefings, and conferences, and offering complete, gavel-to-gavel coverage of the house, all as a service of private industry.

we are c-span, created by the cable t in the third -- the cable television industry 35 years ago. like us on facebook and follow us on twitter. here to talk about the situation in ukraine. let's begin with the news that came out on thursday that lawmakers in the crimean region of the grand have decided to hold this referendum vote. what are they holding a vote on exactly? guest: it is unclear the questions that are going to be asked. i have seen sample ballots, because no one is given the opportunity to vote no. there could be asked if they would to be independent or a part of the russian federation. it depends how the question is actually phrase. essentially it is going to be an attempt to leave ukraine and to rush -- join the russian federation. host: who will be voting? guest: the citizens in crimea.

russian speaking population, and have ties to russia. %.re than 12% to 30% -- 13 host: why was this seen as a big delta the united states and to russia? guest: they have held to the principle of territorial integrity and national sovereignty. ukraine is an integral part of ukraine. vote of self-determination is the defiance of territorial sovereignty and the constitution. in russia, they have also been a great believer in national sovereignty, and has largely protected the rights of people to assert self-determination because it is a multiethnic population.

they would not want the principle floating around the russian federation. they have historical ties, and the results of what has happened in ukraine of the past few weeks has forced russia's hand. it has decided it was to support crimean sovereignty. host: you are the president sake of and the secretary of state they that this vote was illegal. that if they were to break away from the ukraine that is a violation of international law. what is the law? guest: the various treaties, and charter.arter -- un it is also a violation of the memorandum of understanding that was signed in 1994 whereby in order to have ukraine remove its nuclear weapons, they recognize the sovereignty of ukraine. that included sovereignty over crimea.

and as an autonomous republic and has some independence, but it is a part of ukraine and no one has recognized the right for it to secede. host: the front page of journal@c-span.org -- "the new york times." washington supported cause of those bid for independence. guest: the circumstances are different from what occurred in cozumel in 1990's.

it was a mass violation of human rights by serbia. was the event that preceded the decision to ultimately recognize kosovo as an independent country. the united states asserted that this was not a precedent. many other countries chose not to recognize it as an independent country, including russia. the question of self determination and national sovereignty is one of those great gray areas of international law. it depends on the circumstances usually. both sides can assert either side in terms of rights under international law. what is glaring in this case is obviously what has happened in crimea is not an immediate kind of reaction to human rights violations or a structured vote

on referendum. but a very juried operation by this -- hurried operation to be conducted while the occupied militarily. host: we talked about the steps necessary to resolve it. proposed referendum on the future crimea would violate the degrading constitution, and violate international law. any discussion about the future of ukraine must include the legitimate government of ukraine. beyond we are very much the time when borders can be redrawn over the head of democratic leaders. while we take these steps, i want to be clear that there is a way to resolve this crisis that respects the interest of the russian federation, as well as the grading people. -- ukrainian people. let international monitors into

all of ukraine, including granite to make sure that all of them are being respected. russia would maintain its raises aggregate, provided that it abides by's agreements and respects ukraine's, terry -- sovereignty and territorial agreements. they should support them as they move to elections in may. that is the path of de-escalation and secretary kerry is engaged in discussions with all of the relevant parties to pursue that path. but, if this violation of international law continues, it is the resolve of our allies that we will remain firm. secure in our commitment to our allies in

eastern europe. idea, butt is a great mr. putin does not share that path. he believes that there is no legitimate government in ukraine. in the russian press have released stories about the oppression of russians and fascist governments. he has a very different picture of the president -- then the president has a forward. they approach this from different perspective. although president obama has forward a reasonable the ground -- middle ground, it is not good enough for mr. putin. this the front page morning --

what are they talking about here? guest: the traditional inspections that occurred with the international treaties at regular intervals of nuclear weapons. russia is trying to scare the west and the united states from introducing any sort of sanctions. -- keept increasing increasing the rate are a couple at the sanctions would mean. they are trying to get in front of this issue, and compel the united states and the eu not to impose sanctions and to keep ratcheting up the rhetoric beforehand. host: larry, a republican caller. caller: i have a statement to make. is a dictator. the is going to take all of ukraine and he is trying to go

towards germany. that triggered the civil war, and now germany has control over yugoslavia that no longer exists. we are running toward the anniversary world war i, and it is the edge of world war iii. atshould not be working russia, which ability at germany. putin is a dictator, he is doing what dictators do. president obama is doing nothing -- nothing,rlain and chamberlain is doing nothing. guest: we should do our best to prevent thermonuclear world war iii. you raise the question of world war i, and that is an important lesson. though history of world war i indicates how on intended event

and small events can spiral into major world wars. this event does not need to do that. getprocess will continue to more dangerous as crimea pursues this referendum. but at the present time we should not read trying to -- we should still be trying to find some diplomatic answer even if the options are dwindling. caller: you're guest cannot be unaware that last week there were reports in the european press of a telephone the euation between foreign minister and the estonian ambassador. . people slaughtered in a the

square were done by -- we are not hearing about it in the united states newspapers. i am wondering why that is. few could give me an answer i would appreciate it. guest: my understanding is that a lot of the information -- a lot of people who have been quoted in the story have openly denied what has been quoted in the press. there is this a rumor about the role of snipers and weapons support of snipers. there has been no hard evidence provided. i think until the story is confirmed it remains very much in the area of speculation. host: howard in california, republican caller. caller: good morning. you are incredible. since been following you the first days.

[indiscernible] now, i found an idea in the wall street journal. i will put it out there. very knowledgeable people. russiago after and eliminate their ability to do business in the west. we will say to boot and we are not healing with this -- to vladimir putin that we are not

healing with this. host: on that point condoleezza writes in the opinion pages of today's "washington post" -- guest: no doubt russian oligarchs have been able to get their wealth outside of russia. they exist in western banks and offshore accounts and so forth. a lot of that monday -- a lot of that money happens to be located in western europe. if you want to punish the strongest supporters of putin, the best way would go after the wealth of the oligarchs and somehow limited their access to it. isis a very old step that it

-- it results in the greatest cries from russia. if you listen to what the russian ministries have been saying, they have been crying foul. these are sanctions against oligarchs and wealthy people abroad. this touches a very sensitive point in russia. pat is next from keyport, new jersey. a republican caller. caller: i would like to know if you could tell me what we offered ukraine in the budapest memorandum. did we offer them guarantees he echoed to we have any -- anyions to them guarantees? do we have any obligations to them? memorandumbudapest guarantees the sovereignty of the ukraine. we are not under any military obligation to come to the defense of ukraine. nato.e is not a member of

youmemorandum recognizes train's sovereignty. -- recognizes ukraine's sovereignty. host: joining us on the phone is a court finalist -- courtroom the list with the financial times. what is the situation like there now in the ukraine? it is tense. uc convoys of russian troop carriers go through the capital. you also see a lot of demonstrations. a lot of demonstrators coming out to the streets and waving theynian flags, saying

opposed the annexation of the region behind russia. on the other hand you have a lot of row russian demonstrators with russian flags as well. by the main government building in crimea. you have a lot of opposing forces and a lot of tension in the air. they have been vacating certain military bases. there are more and more examples of that. warning shots were fired by armed men and they were forced to turn back. no one really knows who these men are.

they are the sort of self-defense forces. certainly we are getting this impression that he russians are , which have grip recruited from the fleets. and from the local russian population. is there violence right now? there have been some attacks on journalists, which have been causing some ripples. there have been a few nasty incidents. checkpoints have been appearing all over the place. the atmosphere is becoming a little bit fraught. the roads are pretty quiet. city just been going to a

which is one of the main crimean population centers. 280,000 of them make a part of percent of the population. the were in love demonstrations, local women coming out into the streets. host: where exactly are you in the area? caller: i am in the capital. it is the main population center here.

there is the big russian base. it is the closest town to russia . aey are now building them good bridge which will tighten their control for peninsula. more of a russian military presence there than before? guest: not in the capital itself. presence is felt more strongly around the bases. here it is more just local self-defense forces.

it is -- there are paramilitary forces that came in from russia, which is close to crimea. host: what is next? what you waiting for or watching for? the referendum will be next sunday. there is obviously a lot of preparations for that. feels it is being done in a bit of a hurry. normally you would need a lot more preparation. it is all being done on the fly. it was only announced last week. it does not give people much time to prepare.

will a lot of tension in the buildup to that. in the streets they feel it is unfair. the people who made the decision to hold the referendum are not even the real leaders of crimea. with just the sense that this is all done in a hurry by people of questionable authority, who have sort of kabul this thing together and want to rush through the kind of flawed recollection -- flawed referendum will lead to the annexation of russia. it could be that the boats will be split. possibilitye is it there will be a rigged election. host: in the meantime our

ukrainian and russian officials talking and is there any indication this referendum vote will go away? caller: at the moment it looks like it is going to happen. there is nothing stopping them from doing it. the diplomacy does not seem to match context between the ukrainian and crimean authority -- match contact between the ukrainian and crimean authorities. there is very little the west is doing or can do to hold this referendum. it is now hurtling along and picking up speed. i would be surprised if anything can be done in the next few days .o stop the vote from happening russia could be annexing this region quickly.

host: thank you for your time. think wast i important to hear was the level of call that seems to exist in crimea. a region where there is unrest. up it is not a region where they are fleeing or suffering major human rights violations. it does support the rushed nature of this referendum. what was interesting is he said there was nothing that seems -- there doesn't seem to be anything that could stop it. the consequences of this referendum will be felt afterwards. what they will be significant , not just in terms of what happens with u.s. and russian relations, but also in crimea. how much will russia have to spend in order to subsidize crimea and keep it going? upward to $3ts are

billion per year. this will come at a time when russia's economy is not doing so well. it is on the cusp of recession. question as to -- russia can go ahead and do this. it doesn't seem to be anything that can stop this actual referendum. but there will be significant consequences, not just in terms of u.s. russia relations and russian ukrainian relations, but for the people. when itat does it mean comes to resources for europe and their dependents on what is coming out of that region? guest: aside on the dependents for crimea, it is the dependents for energy. this is a major stumbling block in how the united states and eu visits sanctions. the e you and some of its leading countries have major trade relations with russia.

they get a lot of their energy from russia. this obviously complicates any sort of unified approach. russia is dependent on the eea. without the hard currency earnings it gets for its energy, russia's economy would simply collapse. it is a two-way street from russia. what you may see out of this whole incident is the eu may move much faster. that is not something russia really want. "wall street journal" has the figures -- the threeat goes to largest economies. 12% for the u.k., 25% for italy, 40% for your money. norma is our next caller.

heard a report i ofut -- being brought out the country into europe. they mentioned britain. said 40% in the square-mile is unaccountable to -- unaccounted for. is investigated and finds out it is in london or in the virgin islands, which belongs to britain, i hope we can get some money back to the russian people. we can show to the world who the people are. -- people are who accepted the money and used it. guest: capital flight is a huge problem for russia. there were $60 billion left in the country.

there were up $20 billion this year. it is kind of the deal that putin has accepted. oligarchs can make their money and get out of the country, but they cannot challenge them politically. this is the political deal putin has arranged with his older guards that with his oligarchs -- with his oligarchs. if they crack down on russian money and so forth -- capital flight is a that the stating problem. putin has made it one of his priorities to fight it. if russia wants to die first fight the economy and grow, it needs the money that is seeping out of the country at a rapid rate. finding some way to convince russia to keep their money in russia on a voluntary basis is really a crucial part of putin's agenda. this will not help matters. host: here's a question for you on twitter. guest: we should care because this is important for

international law. really, our security is dependent on recognition of territorial sovereignty and the notion that you deal with nations and that you don't recognize individual peoples within nations as independent republics because it would undermine our ability -- the international stability and political sentiment. it is also important to defend a country we have supported in the past, that wants to be a part of there is a therefore strong motivation for the united states to continue to support ukraine as it seeks to integrate more towards the west. host: here is jodi on twitter -- that.'t dispute the question is finding alternative sources of energy. in this part of the world russia is the dominant player. it faces very as challenges in

remaining a dominant player. in the short term it will have to rely on western technology, going to the arctic and help find these energy sources. energy does make the world go round. it is the great benefit russia has, the constant stream of earnings from energy. to compete in the marketplace as well. host: former secretary of state condoleezza rice writing in "the washington post" -- guy in washington, democratic caller. caller: excuse my voice. i've been watching this from the

very beginning. i would like to clear up a few things. one, the police officers that were at the beginning of these riots were unharmed and non-lethal weapons. there were molotov cocktails thrown at them. shot.ice officers were this was not a non-violent takeover of the ukrainian government. the people in southern ukraine theirt tearing flags up because they want russia out of there. they don't want a takeover of

their government. by the way, the oligarchs sitting in the seat -- is addressing he the legitimacy of the government in ukraine. no doubt there were peaceful demonstrations that did not lead to violence. the question is how that violence involved. it is quite clear at some point somebody decided to arm the security services with live act -- with live ammunition. there is a question of legitimacy. thetimacy only addresses government that would shoot a peaceful protesters. the demonstrations in the ukraine were peaceful for the most part. yanukovych's decision not to reach out to them but try to retain power on his own, that ultimately undermined his

legitimacy. it is an interim government in ukraine. it will have to move quickly to establish greater legitimacy. that is why it is important to have the presidential elections as soon as possible. host: a you are on twitter says this -- -- a viewer on twitter says this -- unfortunately ukraine is going to have to deal with international bankers whether it wants to or not. ukraine is broke. there really is no money to sustain them. they want to be independent but they are going to need immediate financial assistance. the great irony that happened over the last few months is du and the united states were reluctant to invest funding into the ukraine. shown up at the table with significant money, both with the eu and imf.

it will involve bankers but it is the only path ukraine has towards independence and stability. host: another call from england, john. hello. caller: i have been watching your program. be credible, i am wonder if you could see the opposite point. your eloquent guest makes comments that are anti-russian, pro-u.s., pro-ukrainian. with your permission i will play the devil's advocate. i would like to make a general statement between the relation -- statement on the relation between u.s. and russia. with the disintegration of the old soviet empire -- when that happened the united states had a

great opportunity. vacuum and a great opportunity for the united states to be a true martyr of war. last 20 odd years, it has really failed international policy. you are losing more and more credibility. happened now, the other great powers say, now there is a new vaccuum. lot of. has created a enemies. this is an opportunity for us to reestablish. -- reestablish ourselves. i think we are going to see the go cold war take two.

i hope not. that would betray difficult time between the russia -- between russia and the united states. one problem is putin has brought a imperial view. we are in a postcolonial world. russia, in fact, has always been a grateful leader in international law. it gives great benefits to the state. there are obviously exceptions that are relevant to in the post-cold war era, russia has been open to international law. i study isthings russian law. russian law is far more open to international law that the united states. law under thenal

russian constitution flows into russian law, which is different from the united states. beena, i think, has responding to events. anticipatedk it what has happened in the ukraine. it has responded, unfortunately, in a heavy-handed manner. there will be other ways to open dialogue. in this case those avenues are closed. host: that was talked about in the news conference on tuesday. here's what he had to say. [video clip] >> are you concerned the war may break out? >> this does not concern me because we are not going to war with the ukrainian people. but there is the ukrainian army. >> listen to me closely. i want you to understand what i think will make this decision. we will make it in order to protect the people of ukraine.

shoot at theiry own people? our soldiers will be standing in fron tot of them. asked about tensions between russia and the ukraine. guest: he says he will take the people of ukraine but the people of ukraine are not asking for it. clearly ukraine is not asking for russian help in this particular incident. host: what you make of his actions all along? have been various interpretations of putin playing chess while we were playing checkers. i think he has been very reactive. he did not really pay attention

to what was going on. he was obviously distracted i so cheap and the world coming to the olympics. sochi and theby world coming to the olympics. he arrived rather late in terms of negotiations. fell apart he acted as we have seen. i think he has been reactive. i think to a certain extent he is overplaying his hand. the people of ukraine are not asking for this. i want to go back to condoleezza rice's piece in "the washington post." she says --

she goes on to write -- it is very interesting how putin displayed young dakota jazz his man. kovacic as hisna man. putin, in his press conference, --is finished. yana kov i don't think that is going to play very well today. the affront to russia suggests

that russia has some sort of interferinght in with the sovereign affairs with a country. it is not simply how the postcolonial war works. he is expressing imperial thoughts, he has some sort of national right to represent the russian speakers in ukraine. russianause they are speakers does not mean they aren't ukrainian. just because he seems to think he represents russian speakers does not give him the right to interfere with the internal affairs of a sovereign nation. you said mr. putin was distracted, do not see this coming. did the united states see it coming yet go -- see it coming? guest: i don't think we saw it either. the debate begins three months ago in the run-up to the signing of the eu association agreement. believed the advantage of that would be ukraine would get

agreement free trade with the eu. that was a great combo should for political reforms in the ukraine. i think that is what we were pushing. president was wavering but he did not say no. what was interesting is that the presidents told him three years the russians told him three years ago not do this. there is not a majority of people who want to join a it -- who want to join nato. the eu are presented something different. hooton allowed those negotiations to proceed. when they got a crisis point, he only intervened then. host: let's get one last phone call in from london. i just wanted to make a quick point and maybe also bring , we have seenact

the media and political analysts bring to the front -- we never try to gauge how people think. hooton has anhow imperial right to take over crimea. we need to address the thinking between the two nations, russia, and the rest of the world. differences in opinions will always exist. somehow we cannot understand or we do not allow the opinions of other countries. this in anaddress impartial dialogue manner. that is the way you are thinking.

there is this ideology of the americans invading here and there. it is very important to try to adjust this across the media. in order to bring this piece to people's minds entrance and that to the politicians at the table, if there is any validity in that i would like to hear your comments. i agree with you and as president obama put forth there are ways we can discuss this. russia is the issue. there is a short-term crisis that is dominating the news and will dominate the discussions. one hopes there could be a dialogue. what looks like is going to happen is russia will have to

present the annexation of crimea after the fact as the starting point of negotiations. the u.s. is still try to keep that and play. host: washingtonext journal, nancy cook will talk about the jobs report and the anti-poverty programs. the healthooks at care launch delay on older , theh plans and james director of the national center of learning disabilities, discusses students with special needs. we will take your calls and you can join the conversation on facebook and twitter. that is washington journal, live at 7:00 a.m. >> coming up tonight on c-span thomas "q&a" with securities and

exchange commissioner mary jo white followed by british prime minister's questions with david cameron and then a discussion of latino voters and the tea party. ♪ "q&a >> this week on"q&a," the chairman of the -- " -- theweek on "q&a chairman of the security and exchange commission mary jo white. mary jo white, why did you even consider being the chairman of the securities and exchange commission? >> great question. it is a wonderful agency. i was the attorney general in new york, worked very closely with sec.